Swisscom sees largely flat sales, core profit in 2021

ZURICH, Feb 4 (Reuters) - Swisscom forecast largely flat core operating profit and sales this year amid more tough competition in its home market.

“For the 2021 financial year, Swisscom expects net revenue of around 11.1  billion Swiss francs, EBITDA of around  4.3  billion francs and capital expenditure of around  2.3  billion,” it said on Thursday.

If it hits its targets, Swisscom will propose an unchanged dividend of  22 francs per share.

Full year earnings before interest, tax, depreciation and amortisation (EBITDA) edged up 0.6 % in 2020 to 4.38 billion Swiss francs ($4.87 billion) on sales of 11.10 billion, down 3.1%.

The market had expected 2020 EBITDA of 4.34 billion francs on sales of 11.09 billion, according to a consensus here of 15 analyst estimates compiled by the company.

Consensus for 2021 was for EBITDA of 4.33 billion and sales of 11.04 billion, with a dividend of 22 francs.

$1 = 0.9002 Swiss francs Reporting by Michael Shields, editing by John Revill